Zimmer Biomet (NYSE:ZBH) Price Target Raised to $118.00

Zimmer Biomet (NYSE:ZBH) had its price objective hoisted by Truist Financial from $117.00 to $118.00 in a report published on Wednesday,Benzinga reports. They currently have a hold rating on the medical equipment provider’s stock.

Other equities research analysts also recently issued research reports about the company. BTIG Research dropped their target price on Zimmer Biomet from $134.00 to $126.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Royal Bank of Canada boosted their price objective on shares of Zimmer Biomet from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Oppenheimer lowered their target price on shares of Zimmer Biomet from $145.00 to $135.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. Barclays decreased their price target on shares of Zimmer Biomet from $125.00 to $118.00 and set an “underweight” rating on the stock in a report on Thursday, December 12th. Finally, Wells Fargo & Company lifted their target price on shares of Zimmer Biomet from $110.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $123.33.

Zimmer Biomet Stock Performance

ZBH stock opened at $107.12 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 1.36 and a debt-to-equity ratio of 0.38. The firm has a market cap of $21.32 billion, a PE ratio of 20.37, a P/E/G ratio of 1.96 and a beta of 1.02. The business has a 50 day moving average of $108.09 and a 200-day moving average of $108.47. Zimmer Biomet has a 12-month low of $101.47 and a 12-month high of $133.90.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported $1.74 earnings per share for the quarter, meeting the consensus estimate of $1.74. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.80 billion. Zimmer Biomet had a net margin of 14.27% and a return on equity of 12.95%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.65 earnings per share. As a group, sell-side analysts expect that Zimmer Biomet will post 7.99 earnings per share for the current year.

Zimmer Biomet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, December 30th will be issued a $0.24 dividend. The ex-dividend date is Monday, December 30th. This represents a $0.96 annualized dividend and a dividend yield of 0.90%. Zimmer Biomet’s dividend payout ratio (DPR) is 18.25%.

Institutional Investors Weigh In On Zimmer Biomet

A number of hedge funds have recently bought and sold shares of the business. Dunhill Financial LLC lifted its stake in shares of Zimmer Biomet by 1,090.0% in the 3rd quarter. Dunhill Financial LLC now owns 238 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 218 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in Zimmer Biomet during the 3rd quarter valued at $28,000. Bangor Savings Bank bought a new stake in Zimmer Biomet in the third quarter worth $31,000. Family Firm Inc. purchased a new position in Zimmer Biomet during the second quarter worth $33,000. Finally, Brooklyn Investment Group bought a new position in Zimmer Biomet during the third quarter valued at $35,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.

Zimmer Biomet Company Profile

Zimmer Biomet Holdings, Inc, together with its subsidiaries, operates as a medical technology company worldwide. The company designs, manufactures, and markets orthopedic reconstructive products, such as knee and hip products; S.E.T. products, including sports medicine, biologics, foot and ankle, extremities, and trauma products; craniomaxillofacial and thoracic products comprising face and skull reconstruction products, as well as products that fixate and stabilize the bones of the chest to facilitate healing or reconstruction after open heart surgery, trauma, or for deformities of the chest.